Noun

Singular debt

Plural debts

debt (plural debts)

  1. An action, state of mind, or object one has an obligation to perform for another, adopt toward another, or give to another.
    • 1589, William Shakespeare, Henry IV, Part I, act 1, sc. 3,
      Revenge the jeering and disdain'd contempt
      Of this proud king, who studies day and night
      To answer all the debt he owes to you
      Even with the bloody payment of your deaths.
    • 1850, Nathaniel Hawthorne, The Scarlet Letter, ch. 14,
      This long debt of confidence, due from me to him, whose bane and ruin I have been, shall at length be paid.
  2. The state or condition of owing something to another.
    I am in your debt.
  3. Money that one person or entity owes or is required to pay to another, generally as a result of a loan or other financial transaction.
    • 1919, Upton Sinclair, Jimmie Higgins, ch. 15,
      Bolsheviki had repudiated the four-billion-dollar debt which the government of the Tsar had contracted with the bankers.

Derived terms

Related terms

From Wiktionary under the GNU Free Documentation License.
Wed Feb 17 02:44:00 2010

Debt is that which is owed; usually referencing assets owed, but the term can also cover moral obligations and other interactions not requiring money. In the case of assets, debt is a means of using future purchasing power in the present before a summation has been earned. Some companies and corporations use debt as a part of their overall corporate finance strategy.

A debt is created when a creditor agrees to lend a sum of assets to a debtor. In modern society, debt is usually granted with expected repayment; in many cases, plus interest. Historically, debt was responsible for the creation of indentured servants.

From Wikipedia under the GNU Free Documentation License
Tue Feb 9 19:35:14 2010

How to claim debt which is linked to a property from executors who have not issued their probate?
Q. If there is a debt on a property owned by a person who is now deceased, how can the debt be collected if the executers do not issue their probate? The executers have been asked to pay the debt however because they are not issuing their probate I cannot claim the money owed to me from them. It has been quite some time since they were asked to pay the debt. Any advice on how I can get my debt.
Asked by Wazy - Wed Jul 29 15:52:07 2009 - - 3 Answers - 0 Comments

A. If you are in the US the executors have a time limit to execute the will. I would speak with someone at the Register of Wills in the county where the will is registered. I was an executor once in Maryland I had one year to fulfill the will but I did have the option to petition the court for a 6 month extension. Wikipedia Probate excerpt: "After opening the probate case with the court, the personal representative inventories and collects the decedent's property. Next, he pays any debts and taxes. Finally, he distributes the remaining property to the beneficiaries, either as instructed in the will, or under the intestacy laws of the state. A party may challenge the probate, either by petitioning the personal representative or the court. [cont.]
Answered by James E - Wed Jul 29 16:20:40 2009

Can debt collectors come after your assets if your spouse incurred the debt before you were married?
Q. My fiance has a debt collector coming after her pretty aggressively and in not the most ethical way (in CA). She has a car (still paying on it) and no other assets. I own a house with more equity than here debt. Can her debt collector come after my assets once we are married?
Asked by rottdog76 - Thu Jun 11 19:50:06 2009 - - 4 Answers - 0 Comments

A. Absolutely not! Premarital assets would not be subject to seizure. Also a unsecured debt does not allow for the seizure of property to satisfy such debt. If she had taken a loan for a car, house,etc the lending agent may reposes such items for auction to satisfy an unpaid loan, but any agency other than the IRS is not lawfully authorised to seize property. The court systems will tell you that they can render a verdict but they are not a collection agency also. In some instances an insurance agency that insured an item such as a car or house that had been damaged by the defendant(your girl friend) may be granted a garnishment against her wages but that in no way grants authority to seize property of any kind. You also have the right to… [cont.]
Answered by Bob and Dana rock - Thu Jun 11 20:19:47 2009

How long after a debt has been created can a creditor report to the credit bureau?
Q. I had some medical bills from 4/10/01 that I didnt not pay in full. I was harassed for awhile by collections and then left alone. This debt was never reported on my credit record and has never showed up. Today on 2/14/2007 (6 years later) I receive a letter from a collections agency telling me to pay up or be reported to the credit agency. I am afraid to call because I heard making contact with them could cause the statutes of limitation to start up again. My question is, If I ignore them, can they really report this to the credit bureaus since the debt was from 6 years ago? Is this just a scare tactic at this point- keep in mind I havent heard from them in 5 years until now all of the sudden. I live in Texas btw
Asked by Avery S - Wed Feb 14 19:27:45 2007 - - 2 Answers - 0 Comments

A. Most collection agencies are not reporting members of the credit bureaus because they are not issuers of credit. They just buy old debt for pennies on the dollar and make an attempt to collect it. If they are not a reporting member, they cannot add anything to your credit record. So most of them are bluffing when they say they will report it on your credit record.
Answered by Brian G - Wed Feb 14 19:34:31 2007

From Yahoo Answer Search: "debt"
Wed Mar 10 03:19:18 2010

Debt is that which is owed; usually referencing assets owed, but the term can cover other obligations. A debt is created when a creditor agrees to loan a sum of assets to a debtor.

Sourced

  • It shows nobility to be willing to increase your debt to a man to whom you already owe much.
    • Cicero, Epistulae ad Familiares, II, 6, 2 (43 BC)
  • A national debt, if it is not excessive, will be to us a national blessing.
  • Be assured that it gives much more pain to the mind to be in debt, than to do without any article whatever which we may seem to want.
  • Live within your means, never be in debt, and by husbanding your money you can always lay it out well. But when you get in debt you become a slave. Therefore I say to you never involve yourself in debt, and become no man’s surety. If your friend is in distress, aid him if you have the means to spare. If he fails to be able to return it, it is only so much lost.
    • Andrew Jackson, Letter to his ward Andrew Jackson Hutchings (April 18, 1833)
  • You must, to get through life well, practice industry with economy, never create a debt for anything that is not absolutely necessary, and if you make a promise to pay money at a day certain, be sure to comply with it. If you do not, you lay yourself liable to have your feelings injured and your reputation destroyed with the just imputation of violating your word.
  • There are two things that bestow consequence; great possession, or great debts.
    • Reverend Charles Caleb Colton (1780-1832), English cleric and writer. Lacon; or, Many Things in Few Words (1823)
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From Google News Search: "debt"
Thu Mar 11 03:49:10 2010

debt trend breakdown 2 jpg
paul.kedrosky.com
debt trend breakdown 2 jpg
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[source page]

Es gibt Zahlen die man schlicht nicht ignorieren kann z B die Gesamtschuldenrate im Verhaeltnis zum BIP http paul kedrosky com WindowsLiveWriter U S TotalCreditMarketDebtbySector1929200 93C7 debt trend breakdown 2 jpg Und noch wichtiger der Grenzproduktivitaet der Schulden

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Debt reduction seems to be the hottest topic in personal finance That is because it is one of the most difficult thing to do and debt is the easiest thing to accumulate The credit card is the prime tool for the submergence in debt for millions of Americans Ever since I ve gotten my credit card I have racked up a large balance from just the occasional

Easy Debt Reduction1 jpg
easydebtreduction.com
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[source page]

The debt help services have become a very popular concept due to the ability of them to produce timely help to the people to com out from the tough situation There are essentially two

From Yahoo Image Search: "debt"
Wed Mar 10 06:54:32 2010

'Avatar's' Debt To 'The Wizard Of Oz'
huffingtonpost.com
'Avatar's' Debt To 'The Wizard Of Oz'

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ue, 09 Mar 2010 18:45:02 GM

The Wizard Daniel MendelsohnThe New York Review of Books.

Christian Debt Help Gives you the Moral and Financial Support you ...
phonienews.com
Christian Debt Help Gives you the Moral and Financial Support you ...

unknown

Wed, 10 Mar 2010 21:08:36 GM

At times, it is difficult to financially meet up with all our needs and requirements with a fixed source of income. Hence, we fall prey to.

Greek Debt Crisis Is At The Center Of The Credit Default Swap Debate
huffingtonpost.com
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Wed, 10 Mar 2010 14:31:33 GM

New york derivatives have become a dirty word. The complex financial products helped blow up the US housing market.

From Google Blog Search: "debt"
Thu Mar 11 05:15:45 2010

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Fri Feb 12 05:18:38 2010